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Marketing Terms and Definitions, Quizzes of Marketing Business-to-business (B2B)

Definitions for various marketing terms, including customer needs, wants, demands, market offerings, marketing myopia, exchange, market, marketing management, strategic planning, consumer market, business market, market segmentation, market targeting, differentiation, positioning, geographic, demographic, psychographic, behavioral, undifferentiated marketing, differentiated marketing, concentrated marketing, and micromarketing.

Typology: Quizzes

2010/2011

Uploaded on 09/26/2011

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TERM 1
marketing
DEFINITION 1
managing profitable customer relationships and attract new
customers by promising superior value and keep and grow
current customers by delivering satisfaction.
TERM 2
needs
DEFINITION 2
are states of felt deprivation
TERM 3
wants
DEFINITION 3
are the form of humans needs take as they are shaped by
culture and personality
TERM 4
demands
DEFINITION 4
wants are shaped by ones society and are described in terms
of objects that will satisfy those needs especially when
backed by buying power
TERM 5
market offerings
DEFINITION 5
combination of products, services, information, or
experiences offered to a market to satisfy a need or a want
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marketing

managing profitable customer relationships and attract new customers by promising superior value and keep and grow current customers by delivering satisfaction. TERM 2

needs

DEFINITION 2 are states of felt deprivation TERM 3

wants

DEFINITION 3 are the form of humans needs take as they are shaped by culture and personality TERM 4

demands

DEFINITION 4 wants are shaped by ones society and are described in terms of objects that will satisfy those needs especially when backed by buying power TERM 5

market offerings

DEFINITION 5 combination of products, services, information, or experiences offered to a market to satisfy a need or a want

marketing myopia

when sellers make the mistake of paying more attention to the specific products they offer than to the benefits and esperiences produced by these products TERM 7

exchange

DEFINITION 7 act of obtaining a desired object from someone by offering something in return TERM 8

market

DEFINITION 8 is the set of actual and potential buyers of a product or service TERM 9

marketing management

DEFINITION 9 art of science of choosing target markets and building profitable relatationships with them TERM 10

strategic planning

DEFINITION 10 involves developing a strategy for long term survival and growth

what are the main components in a marketing

plan

the executive summarythe current marketing situationthreats and opportunitiesobjectivesmarketing strategiesaction programsbudget and controls TERM 17

to be successful companies must

DEFINITION 17 be effective at implementingor turning there strategies into action TERM 18

marketing departments consist of

DEFINITION 18 functional marketing organizationgeographic organizationproduct management organizationmarket management organization TERM 19

consumer market

DEFINITION 19 consists of all the individuals and house holds who buy and acquire goods and services for personal consumption TERM 20

4 major factors that influence consumer buyer

behavior

DEFINITION 20 influenced by 4 key sets of buyer characteristicsculturalsocialpersonalpsychological

complex buying behavior

consumers that become highly involved in a purchase and perceive significant differences among brands TERM 22

dissonance

DEFINITION 22 reducing behavior occurs when consumers are higly involved but see little difference among brands TERM 23

habitual buying behavior

DEFINITION 23 occurs under conditions of low involvement and little significance brand difference TERM 24

variety seeking buying behavior

DEFINITION 24 low involvement but significant perceived brand differences TERM 25

product adoption process has 5 stages

DEFINITION 25 awarenessinterestevaluationtrialadoption

institutional market

consists of schools hospitalsprisonsand other institutions that provide goods and services to people in their carecharacterized by low budgets and captive patrons TERM 32

government market

DEFINITION 32 consists of government units federal state and local that purchase or rent good and services for carrying out the main functions of government TERM 33

market segmentation

DEFINITION 33 is the act of dividing a market into distinct segments of buyers with different needs characteristics of behaviors who might need separate product or marketing mixes TERM 34

market targeting

DEFINITION 34 evaluates each market segments attractiveness TERM 35

differentiation involves

DEFINITION 35 actually differentiating the market offering to create superior customer value.

positioning

consists of positioning the market offering in the minds of target customers TERM 37

geographic

DEFINITION 37 the market is divided into different geographical units such as nations regions states counties cites or even neighborhoods TERM 38

demographic

DEFINITION 38 the market is divided into groups based on demographic variables including raceage generationgender nationalityfamily sizefamily life cycleincomeoccupationeduationreligionracegenerationand nation TERM 39

psychographic

DEFINITION 39 the market is divided into different groups based on social classlifestylepersonality characteristics TERM 40

behavioral

DEFINITION 40 the market is divided into groups based on consumer knowledgeattitudesusesor responses to a product